Essay: Significance of E-Commerce

The main reason behind e-commerce is to increase the number of sales by reaching many customers and eventually increase the profit. Holding other factors constant such as the price and the quantity of the goods among others, the quality of the goods directly determines the sales of a commodity. This is more so because of increased number of sellers leading to a stiff competition. In the past five years, e-commerce has enabled buyers to access quality goods. Despite the fact that e-commerce has boosted many businesses it has on the other hand led to the downfall of many whose products are of low quality and cannot fit in the competitive business world.

Consequently, business operators have been forced to produce goods of high quality and sell them at favorable prices that would help them to remain the preferred consumers’ choices and hence overcome the competition. For instance, the downfall of the Toyota Company, which was amongst the world’s leading car manufacturing companies, was as a result of the decrement in the quality of their products among others (linkedin.com)

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